Question
The owner contributes cash to commence business operations, which of the following analysis correctly identifies the effect on the accounting equation? a. Decrease in equity
The owner contributes cash to commence business operations, which of the following analysis correctly identifies the effect on the accounting equation?
a. Decrease in equity / Increase in liability
b. Increase in asset / Increase in liability
c. Decrease in equity / Decrease in asset
d. Increase in asset / Increase in equity
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Advanced Accounting And Auditing Theory And Practice
Authors: Prof. R.B. Patel
1st Edition
8188730882, 978-8188730889
